Analysts have an average price target of $265 for Nvidia, which is about a 50% upside from its current price around $178. The main driver is continued demand for AI hardware, with tech companies planning massive data center spending through 2026 and beyond. Interestingly, NVDA's forward PE is currently 21.6, making it slightly cheaper than the S&P 500 average of 21.7. The market seems to be pricing in a strong 2026 followed by a return to average growth. However, projections showing up to $7 trillion in global data center spending by 2030 suggest the infrastructure buildout could run much longer than currently priced in.